CAC to host global conference on beneficial ownership, asset recovery

The Corporate Affairs Commission, CAC, is set to convene a global conference on beneficial ownership transparency and asset recovery as part of efforts to strengthen international cooperation against illicit financial flows, anonymous corporate structures and the concealment of illicit wealth.

The Global Conference on Beneficial Ownership and Asset Recovery, being organised by the CAC, will bring together about 250 participants, including senior government officials, regulators, representatives of international organisations, financial intelligence units, private-sector practitioners, civil society organisations and investigative journalists.

The conference, which will be held in Lagos between 8th and 11th November, 2026, is expected to provide a platform for stakeholders to examine strategies for improving transparency in corporate ownership, strengthening asset-tracing and recovery mechanisms, and accelerating progress at the global, continental and national levels.

As preparations for the international gathering gather momentum, the CAC has launched the official conference website to provide information and updates on the event.

The website will serve as the central digital platform for conference details, registration and other relevant information for prospective participants and stakeholders.

The conference comes amid growing global concerns over the economic impact of illicit financial flows and the use of anonymous corporate structures to conceal the identities of individuals who own, control or benefit from assets.

According to information released by the CAC ahead of the conference, illicit financial flows and anonymous corporate structures have cost the world billions of dollars, with Africa alone estimated to lose about $88 billion annually.

The commission said beneficial ownership transparency had emerged as a recognised first line of defence against the misuse of companies and other legal entities to conceal ownership, move illicit funds and hide assets.

The conference will also examine the relationship between beneficial ownership transparency and asset recovery, with participants expected to explore how stronger disclosure systems can support the identification, tracing and recovery of illicit assets.

Organisers said effective asset recovery could help convert hidden wealth into resources for development, public services and justice.

The CAC is expected to use the conference to highlight Nigeria’s progress in strengthening corporate transparency and supporting efforts to identify and recover illicit assets.

Nigeria’s reforms include the enactment of the Companies and Allied Matters Act, CAMA, 2020 and the establishment of the CAC’s Beneficial Ownership Register, which provides a framework for identifying the individuals who ultimately own or control companies and other legal entities.

The conference will also highlight ongoing asset recovery efforts by the Economic and Financial Crimes Commission, EFCC, the Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Federal Ministry of Justice.

The CAC said the gathering would promote stronger collaboration among governments, corporate regulators, financial intelligence institutions, law-enforcement agencies, private-sector actors, civil society organisations and investigative journalists.

Participants are expected to examine ways of improving access to beneficial ownership information, strengthening cross-border cooperation and enhancing the capacity of institutions responsible for investigating financial crimes and recovering illicit assets.

The conference is also expected to advance discussions on how countries can prevent the abuse of corporate structures, improve the recovery of illicit assets and ensure that recovered resources contribute to sustainable development and the public good.

Through the conference, the CAC aims to reinforce Nigeria’s commitment to corporate transparency, accountability and international cooperation in the fight against illicit financial flows.

The event is expected to strengthen Nigeria’s role in advancing beneficial ownership reforms and deepen global, continental and national efforts to prevent hidden ownership and recover assets linked to illicit financial activities.